Affiliates of private equity firms Ares Management LLC (Los Angeles) and Freeman Spogli & Co. (Los Angeles) have purchased specialty floor covering retailer Floor and Décor Outlets of America (Atlanta) from private equity firms Najeti Ventures LLC (Southbury, Conn.), Saugatuck Capital Company (Wilton, Conn.) and TWJ Capital LLC (Stamford, Conn.), according to a press release.
Affiliates of private equity firms Ares Management LLC (Los Angeles) and Freeman Spogli & Co. (Los Angeles) have purchased specialty floor covering retailer Floor and Décor Outlets of America (Atlanta) from private equity firms Najeti Ventures LLC (Southbury, Conn.), Saugatuck Capital Company (Wilton, Conn.) and TWJ Capital LLC (Stamford, Conn.), according to a press release.
The retailer offers ceramic, stone, wood and laminate flooring, as well as flooring installation tools, through 25 stores in 15 U.S. metropolitan markets and www.flooranddecoroutlets.com. Floor and Décor Outlets of America's stores typically range in size from 60,000-80,000 square feet and stock about 2,500 SKUs; the dealer's primary customers are homeowners and contractors.
With the purchase, Floor and Décor plans to accelerate its growth plans by opening new stores and breaching new markets. "We are delighted to partner with Ares and Freeman Spogli, whose capital base, network of relationships, and expertise in the retail and consumer industries will be an invaluable resource as we embark on a significant expansion of our geographic footprint," said Vincent West, CEO of Floor and Décor, in the release.
